Economic Buzz: UK Producer Input Prices Rise 20.5%

14 Sep 2022 , 03:34 PM

Producer input prices in UK rose by 20.5% in the year to August 2022, down from 22.6% in the year to July 2022, as per the data released by the Office for National Statistics. Producer output (factory gate) prices rose by 16.1% in the year to August 2022, down from 17.1% in the year to July 2022. Crude oil and petroleum products provided the largest downward contributions to the change in the annual rates of input and output inflation, respectively. On a monthly basis, input prices decreased by 1.2% and output prices decreased by 0.1% in August 2022; this is the first time the monthly rates have been negative since August 2020 and September 2020, respectively. Powered by Commodity Insights